Japan's Kiuchi says must stay alert to economic effects from Middle East conflict

Japan's Economy Minister, Minoru Kiuchi, said on Tuesday that the government will respond swiftly while monitoring the economic impact of the Middle East conflict and price hikes on households and businesses.

Key quotes

See strong momentum in this year's wage negotiations, improvements in job conditions.

Effect of government steps likely to underpin moderate economic recovery.

Must be vigilant to impact on economy from Middle East conflict.

Government will act nimbly while keeping close eye out on economic fallout from Middle East conflict, effect of price rises on households and business activity.

Important to ensure market trust in Japan's finances, will keep close watch on daily market moves.

Administration's stance is to appropriate in annual budget any permanent spending measures, won't rule out extra budget to fund emergency, necessary measures.

Market reaction 

At the time of writing, the USD/JPY pair is trading 0.06% higher on the day to trade at 158.92.